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Hello,

I am a single Singapore citizen and first time buyer. I have a CPF saving of 31,000 in OA. I am paying $1850 CPF per month.

I am planning to buy a private home worth around 2,50,000 or less. Could you please tell me how much cash I should have in hand.

Thanks so much
DV
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1 Answer

Mike Lim
Replied
Morning,

Based on what you have provided, below stated will be the breakdown, assuming that you get 80% loan, with purchase price of $2.5 mil:

1) 5% cash: $125k
2) 15% CPF: $375k (Payable by cash due to insuffient CPF)
3) Stamp and Legal Fee: $41.5k (After deducting $31k from CPF)
4) Misc admin fee: $5k+ (Property Tax refund, Maintanence fee, etc)

Hence you might need around $550k cash to purchase a property of $2.5 mil.

FYI
Mike Lim
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